Spanish tax

Old Jan 22nd 2023, 7:18 pm
  #61  
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Default Re: Spanish tax

Originally Posted by anagerbera2014
Thanks very much for the explanation bobd22, very useful to know. Could you please clarify this? So you have your "crown pension" taxed only in the UK, but still you need to declare this "crown pension" on the "Spanish tax return" in Spain, indicating how much money received (gross) and how much UK tax was deducted (net). Have I understood it correctly? Many thanks indeed. And also, would you mind sharing the name of your gestor (as he sounds knowledgeable about this type of things)? I have already asked a few gestors in Spain but they do not seem to understand what I am talking about.regarding "UK civil service pensions"..! Many thanks. Best regards to all.
Yes that's correct tax paid in UK, income declared as Crown/ UK government pension to spanish tax authorities but not taxed. As for my Gestor it is just our local village Gestor. You would better saying where you will live in Spain and I'm sure someone in similar situation will point you towards someone to help.
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Old Jan 22nd 2023, 8:13 pm
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Default Re: Spanish tax

Originally Posted by bobd22
Yes that's correct tax paid in UK, income declared as Crown/ UK government pension to spanish tax authorities but not taxed. As for my Gestor it is just our local village Gestor. You would better saying where you will live in Spain and I'm sure someone in similar situation will point you towards someone to help.
Thanks a lot for the clarification Bobd22. I hope I shall be able to explain that to a "gestor" in a clear way! I'm based in the Caceres region, so not sure whether any good gestors that people might know... with experience of "UK pensions"...! Kind regards. And thanks a lot.
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Old Jan 22nd 2023, 8:19 pm
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Default Re: Spanish tax

Originally Posted by anagerbera2014
Thanks a lot for the clarification Bobd22. I hope I shall be able to explain that to a "gestor" in a clear way! I'm based in the Caceres region, so not sure whether any good gestors that people might know... with experience of "UK pensions"...! Kind regards. And thanks a lot.
​​​​​​I mentioned it to my gestor before trying elsewhere and he had same understanding as me it's not an issue to deal with but he needs to know what the pension amounts to and so long as government pension not taxed in Spain. To date I have had no issues.
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Old Jan 22nd 2023, 9:15 pm
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Default Re: Spanish tax

All that the gestor needs is the gross amount of the government pension. The Spanish taxman is not interested in the amount of UK tax paid as it is not relevant (unless you are claiming it against Spanish tax, which you are not).

The amount of the pension paid (gross) is entered into one box on the declaration described as exempt income (rentas exentas). That’s it.

The income is added to other income such as the UK state pension etc to determine the tax rate applicable to the other income.
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Old Jan 23rd 2023, 8:42 am
  #65  
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Default Re: Spanish tax

Sorry anagerbera - I did my FD9 before my pensions were paid - but my understanding would be that once you are confirmed as a tax resident in Spain with the UK tax office and a code of NT issued you would just need to inform your pension payer to pay it gross.

But maybe someone who has been through the process recently can add clarification?
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Old Jan 23rd 2023, 9:01 am
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Default Re: Spanish tax

Your pension company will be notified by HMRC of your NT code automatically.
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Old Jan 23rd 2023, 10:51 am
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Default Re: Spanish tax

Originally Posted by Fred James
Your pension company will be notified by HMRC of your NT code automatically.

This is correct as mine were automatically informed in late November last year and with Decembers pension payment all of the tax was repaid by the provider not HMRC.
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Old Jan 23rd 2023, 3:31 pm
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Default Re: Spanish tax

Originally Posted by Barriej
This is correct as mine were automatically informed in late November last year and with Decembers pension payment all of the tax was repaid by the provider not HMRC.
Yes, just like when you were paid by PAYE and you are issued a new tax code after submitting your tax return. HMRC automatically notifies your employer, who then uses your new code and repays any overpaid tax or collects more tax.
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Old Jan 27th 2023, 5:55 pm
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Default Re: Spanish tax

Please can anyone tell me what the exchange rate - GBP to EUR - is for 2022 Spanish Income Tax purposes? TIA
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Old Jan 27th 2023, 9:06 pm
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Default Re: Spanish tax

Based on rates from the ECB, it is €1.17266/GBP
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Old Jan 28th 2023, 8:12 am
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Default Re: Spanish tax

Just saw this on Facebook posted by my tax advisors

The new 𝐓𝐀𝐗 𝐌𝐄𝐀𝐒𝐔𝐑𝐄𝐒 proposed in 𝐒𝐏𝐀𝐈𝐍 for 2023
The '𝐭𝐚𝐱' 𝐨𝐟 𝐬𝐨𝐥𝐢𝐝𝐚𝐫𝐢𝐭𝐲 for those taxpayers with wealth over 3 million euros.
𝐑𝐞𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐢𝐧 𝐈𝐑𝐏𝐅 (IncomeTaxes) from 18,000 to 21,000 euros.
An 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐚𝐭 𝐭𝐡𝐞 𝐈𝐑𝐏𝐅 (Income Taxes) will be created for incomes over 200,000 euros.
Another reduction in the tax rate for 𝐖𝐨𝐫𝐤 𝐈𝐧𝐜𝐨𝐦𝐞𝐬. It will operate on gross salaries between 15,000 and 21,000 euros.
More 𝐞𝐟𝐟𝐨𝐫𝐭 for big companies.
Reduction of 𝐜𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐢𝐨𝐧 𝐭𝐚𝐱 𝐭𝐨 𝟐𝟑% 𝐟𝐨𝐫 𝐒𝐌𝐄𝐬 (small and medium enterprises, known as PYMES in Spanish).
An additional 𝟓% 𝐫𝐞𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐢𝐧 𝐧𝐞𝐭 𝐦𝐨𝐝𝐮𝐥𝐞 for the self-employed.
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